“Amazon, Buffett’s Berkshire And JPMorgan To Launch Healthcare Company,” by Bruce Japsen, Forbes

“Online retailer Amazon, Warren Buffett’s Berkshire Hathaway and JPMorgan Chase & Co. said Tuesday  they will form an ‘independent company’ to improve healthcare for their hundreds of thousands of U.S. employees and lower costs. They said the initial focus will be on ‘technology solutions’ that will provide U.S. employees and their families with ‘simplified, high-quality and transparent healthcare at a reasonable cost.’ The statement didn’t disclose many details about the venture, saying it was in the ‘early planning stages,’ with executives acknowledging healthcare’s many complexities. The three giants did say their company will be different in that it will be ‘free from profit-making’ and is sure to shake up at least the purchasing aspect of healthcare, potentially becoming a savvier shopper for their workers.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

The idea of Amazon et al. disrupting the health care market is exciting and far more promising than yet another study commission to tweak government health care programs would be. But why ‘free from profit-making’? The profit motive is what made all three of those companies great in the first place, enabled them to provide health care insurance, not to mention incomes, to their hundreds of thousands of employees, and positioned them to tackle improving health care.

Amazon, Buffett’s Berkshire And JPMorgan To Launch Healthcare Company

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#goldencareagent